Budapest Airport re-prices debt

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By admin December 17, 2015 21:19

Budapest Airport re-prices debt

One year after Budapest Airport’s €1.3 billion debt refinancing, the airport’s significantly above-average traffic growth, and very strong financial performance, has allowed the Hungarian gateway to approach its lenders to successfully negotiate a more than 50 bps margin reduction on its lending terms, saving it millions of euros annually.

The 15 December re-pricing – which was 100% accepted across all 17 financial institutions –comes less than a week after the airport crossed the 10 million annual passenger threshold for the very first time. Having experienced its 12th consecutive double-digit month of passenger traffic growth in November, the Central European airport set a new record for the second year in a row when it welcomed its 10 millionth passenger on 10 December.

Commenting on the debt re-pricing, Ingo Ludwig, Chief Financial Officer and Deputy CEO, Budapest Airport says: “We are very satisfied with achieving this repricing. Completed just 12 months after the refinancing, it shows the great operational performance of Budapest Airport, as well as the trust, and confidence that our lenders have in the airport and its management. In addition, this accomplishment indicates the continuing strong appetite from our lenders to be involved in the success of Budapest Airport as it continues to grow and move forward.”

admin
By admin December 17, 2015 21:19